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Business Plan

The business plan outlines all relevant internal and external elements for starting a new venture, including descriptions of the business, marketing, operations, organization, and financial plans. It integrates functional plans and helps determine a venture's viability, provides guidance for planning, and serves as a tool for obtaining financing. The business plan template includes sections for an executive summary, industry analysis, venture description, production, operations, marketing, organization, risk assessment, financial projections, and appendix.

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467 views2 pages

Business Plan

The business plan outlines all relevant internal and external elements for starting a new venture, including descriptions of the business, marketing, operations, organization, and financial plans. It integrates functional plans and helps determine a venture's viability, provides guidance for planning, and serves as a tool for obtaining financing. The business plan template includes sections for an executive summary, industry analysis, venture description, production, operations, marketing, organization, risk assessment, financial projections, and appendix.

Uploaded by

raquibalam
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Business Plan

Business Plan: The business plan is a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture. It is of often an integration of functional plans such as marketing, finance, manufacturing and human resources. It includes: Description of business-Type of business, product, type of business opportunity (Seasonal or year round) and growth opportunities Marketing plan-Target customers, competitive edge, marketing strategy, promotions Organizational Plan- Type of ownership, Recruitment Process, Training Programme Operational Plan- Production Process and New technologies to be adopted, Operational hours Financial Plan- Estimation of business income, cost of Production, Sales volume to achieve break even, Projected assets and liabilities. Importance of Business Plan The business plan is valuable to entrepreneur, potential investors or even new personnel who are trying to familiarize themselves with the venture, its goal and objectives. The business plan is important because It helps determine the viability of the venture in a designated market. It provides guidance to the entrepreneur in organizing his or her planning activities. It serves as an important tool in helping to obtain financing.

Outline of a Business Plan: 1) Introductory pages a) Name and Address of the business b) Nature of the business c) Statement of financing needed d) Statement of confidentiality of report 2) Executive Summary- Three to four pages summarizing the complete business plan 3) Industry Analysis a) Future outlook and trends b) Analysis of competitors c) Market segmentation d) Industry and Market forecasts

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4) Description of venture a) Product b) Service c) Size of the business d) Office equipment and personnel e) Background of entrepreneurs 5) Production Plan a) Manufacturing process b) Physical Plant c) Machinery and equipment d) Name of suppliers of raw material 6) Operational Plan a) Description of companys operation b) Flow of orders for goods c) Technology utilization 7) Marketing plan a) Pricing b) Distribution c) Promotion d) Product forecasts 8) Organizational Plan a) Form of ownership b) Management- team background c) Roles and Responsibility of members of organization. 9) Assessment of Risk a) Evaluate weakness of the business b) New technologies c) Contingency plans 10) Financial Plan a) Pro forma Income statement b) Cash flow projections c) Pro forma balance sheet d) Break-even analysis e) Sources and Applications of funds 11) Appendix
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